TARC posts Q4 net loss of ₹51.73 crore, consolidated revenue falls 92%

The company reported operating earnings before interest, taxes, depreciation, and amortisation (EBITDA) loss of ₹4.11 crore compared to operating EBITDA of ₹38 crore in the fourth quarter of the previous fiscal.

For the financial year ending on March 31, 2024, the company reported a net loss of ₹77 crore compared to a net profit of ₹20 crore last year. The total consolidated revenue for the financial year fell by 68% YoY to ₹121.40 crore. The company’s operating EBITDA in FY24 was lower by 70.70% YoY at ₹46.56 crore.

In FY24, TARC achieved a presale of ₹1,612 crore and collections of ₹415 crore. The company’s net cash flow from operations stood at ₹158 crore for the year.

In January, the company’s largest project, TARC Kailasa was launched in Central West Delhi. The project has a gross development value (GDV) of ₹4,000 crore and the company said its phase 1 has been sold out. Meanwhile, phase 2 of the project is expected to be launched in June 2024.

The firm’s TARC Tripundra, with a GDV of over ₹1,000 crore, is expected to be completed and delivered within the next 12 months. Additionally, the company is working towards launching a new project in Gurugram with a GDV of over ₹2,600 crore.

TARC said its robust pipeline and ongoing developments will help the firm exceed its pre-sales guidance of approximately ₹5,000 crore in FY25.

Shares of the company have risen by nearly 28% since the beginning of the year. The stock has gained over 226% in the last one year.